Voyager Global Management LP Invests $29.28 Million in Meta Platforms, Inc. (NASDAQ:META)

Voyager Global Management LP purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the social networking company's stock, valued at approximately $29,276,000. Meta Platforms accounts for about 1.2% of Voyager Global Management LP's investment portfolio, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Seelaus Asset Management LLC lifted its stake in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its stake in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC lifted its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. Riverwater Partners LLC lifted its stake in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after buying an additional 15 shares during the last quarter. Finally, Stephens Consulting LLC lifted its stake in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Meta Platforms from $660.00 to $615.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald lowered their price target on shares of Meta Platforms from $790.00 to $624.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research report on Wednesday, April 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Finally, BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $681.95.

Meta Platforms Stock Up 0.5 %

Shares of META traded up $2.47 during trading hours on Monday, hitting $549.74. The stock had a trading volume of 15,120,869 shares, compared to its average volume of 17,595,260. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $587.00 and a 200-day simple moving average of $604.68. The firm has a market capitalization of $1.39 trillion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $427.11 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business posted $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.38%. Meta Platforms's dividend payout ratio is 8.78%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total value of $24,195,307.97. The disclosure for this sale can be found here. Insiders sold a total of 285,289 shares of company stock valued at $200,201,352 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.